Northrim BanCorp Names Huston as New Chairman, Succeeding Schierhorn
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 24 2025
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Retirement Announcement: Joe Schierhorn will retire from Northrim BanCorp on December 31, 2025.
Succession Plan: The Board has announced that Mike Huston will take over as Chairman of the Board on January 1, 2026.
Current Roles: Huston is currently the President & CEO of Northrim Bank and has been with the company since 2017.
Leadership Timeline: Huston has served as President since 2022 and became President and CEO in 2024.
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About NRIM
Northrim BanCorp, Inc. is a bank holding company. The Company is primarily engaged in the delivery of business and personal banking services through its wholly owned banking subsidiary, Northrim Bank (the Bank). Its segments include Community Banking, Home Mortgage Lending, and Specialty Finance. Community Banking segment's principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. Home Mortgage Lending segment's principal business focus is the origination and sale of mortgage loans for one-to-four family residential properties, mortgage loan servicing for a portion of mortgage loans sold, and investment in certain one-to-four family residential mortgage loans. The Specialty Finance segment's principal business focus is factoring, asset-based lending and alternative working capital solutions to small and medium-sized enterprises and includes Sallyport Commercial Finance, LLC (SCF) and Northrim Funding Services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Stock Price Plunge: Following the disappointing earnings report, Northrim's stock price dropped by $4.44, or 14.95%, closing at $25.25 per share on January 23, indicating investor anxiety about future performance.
- Legal Investigation Launched: Pomerantz LLP is investigating whether Northrim and its executives engaged in securities fraud or other unlawful practices, which could further impact the company's reputation and shareholder value.
- Historical Context: Pomerantz LLP, a leading firm in securities class action litigation with over 85 years of experience, highlights the significant legal risks Northrim faces, potentially affecting its operational stability and investor confidence.
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Northrim BanCorp Declares Quarterly Dividend
- Quarterly Dividend Announcement: Northrim BanCorp declares a quarterly dividend of $0.16 per share, consistent with previous distributions, indicating stable cash flow and profitability, which boosts investor confidence.
- Yield Information: The forward yield of 2.53% provides investors with a relatively attractive return, reflecting the company's robust performance in the current market environment.
- Payment Schedule: The dividend will be payable on March 13, with a record date of March 5 and an ex-dividend date also on March 5, ensuring shareholders receive timely returns and enhancing their willingness to hold shares.
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